Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

Mortgages 389

Mortgages Marketing Banks Investor 389

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. “Once data is identified, the system can then run a series of automated comparison checks or rules,” Jennifer Fortier , principal at Stratmor, said. .

Industrial 385

Industrial Mortgages Principal Loans 385

Housing Wire

JULY 20, 2023

Rumors this week that regulators would increase residential mortgage capital requirements for larger depositary banks, far exceeding international standards under the Basel III rules, have raised alarms for industry executives, analysts and trade groups. To understand the context, U.S.

Mortgages 365

Mortgages Banks Marketing Residential 365

Housing Wire

MARCH 22, 2023

The Federal Reserve ‘s decision to raise the federal funds rate by 25 basis points on Wednesday signaled that officials are still focused on bringing down inflation to 2% while monitoring how much recent bank failures slow lending in the economy and cool demand. What does it mean for buyers, sellers?

Industrial 392

Industrial Mortgages Purchase and sale agreement Banks 392

Housing Wire

DECEMBER 15, 2021

Toronto-based cryptocurrency lending platform Ledn has raised $70 million in a Series B funding round to support the growth of its digital assets lending business, including a new Bitcoin-backed mortgage product. Founded in 2018, Ledn focuses on saving and lending products for Bitcoin and other digital assets.

Mortgages 414

Mortgages Lending Banks Investor 414

Housing Wire

AUGUST 14, 2020

Ivanoski has 17 years of experience in the financial services industry, including time at State Street Corporation and Santander Bank. A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology.

Lending 301

Lending Principal Industrial Development 301

Housing Wire

JUNE 2, 2022

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. ” NCRC had previously provided training to Movement Mortgage, at the lender’s request, in 2019.

Mortgages 392

Mortgages Loan Officer Lending Principal 392

Housing Wire

AUGUST 16, 2022

s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. The fate of Wells Fargo & Co. ’s Presented by: Reggora.

Mortgages 370

Mortgages Lending Loans Banks 370

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 388

Marketing Principal Banks Loans 388

Housing Wire

APRIL 8, 2022

Deephaven Mortgage hired Anthony Gulotta to lead wholesale sales on the East Coast, the non-QM lender announced this week. Gulatta, based in Charlotte, will work to build the lender’s presence with mortgage brokers on non-agency products. Before joining Deephaven, Heitzmann was principal at LGH Consulting.

Sales 380

Sales Lending Principal Banks 380

Housing Wire

FEBRUARY 13, 2023

Non-QM lender Deephaven Mortgage, owned by alternate investment firm Pretium, has appointed Aaron Drago as its chief operating officer. In May, Lisa Heitzmann joined the company as its chief operating officer and later went on to join LGH Consulting LLC as its principal. million security backed by non-QM mortgages. among others.

Mortgages 363

Mortgages Principal Banks Equity 363

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. Think technology and service providers, too — a smaller mortgage market affects everyone.

Industrial 442

Industrial Mortgages Principal Technology 442

Housing Wire

JANUARY 26, 2022

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. The post Mortgage Coach and Sales Boomerang snag new investor appeared first on HousingWire.

Investor 338

Investor Sales Mortgages Loan Officer 338

Housing Wire

JULY 21, 2022

Recent pleadings filed in the bankruptcy case of First Guaranty Mortgage Corp. Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Creating an invincible lending strategy refresh amid chaos.

Bankruptcy 393

Bankruptcy Banks Pre-approval Principal 393

Housing Wire

JUNE 9, 2021

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. Bank CRA obligations cover far more than their mortgage lending.

Banks 485

Banks Lending Loans Principal 485

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 441

Technology Development Title Lending 441

Housing Wire

JULY 22, 2022

Non-QM lender First Guaranty Mortgage Corp. Sprout Mortgage imploded in early July, leaving its employees out in the cold. Just weeks later, a leaked text message from Flagstar Bank provided an inside look at how dire the current climate is for many non-QM lenders. Of course we’re not. “…If

Lending 381

Lending Banks Bankruptcy Loans 381

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 billion in 2021 to $4.6

Equity 424

Equity Lending Fixed-rate mortgage Loans 424

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept. As of Sept.

Fixed-rate mortgage 409

Fixed-rate mortgage Principal Banks Loans 409

Housing Wire

OCTOBER 18, 2022

A recent lawsuit claims Sprout Mortgage left its warehouse lender FirstFunding holding over $220 million of its debt when the mortgage lender abruptly closed on July 6. Sprout was founded in 2009 by industry veteran Michael Strauss and became “one of the fastest growing non-QM lenders in the country,” according to the lawsuit.

Loans 381

Loans Principal Mortgages Lending 381

Housing Wire

MARCH 25, 2022

Presented by: Acra Lending. Pennymac has said it is making an effort to boost its consumer direct lending business. million to open a new mortgage origination center in Franklin, Tennessee, creating 325 jobs in Williamson County. billion in unpaid principal balance in 2021, up 19% from 2020, its latest earnings report showed.

Lending 382

Lending Principal Loans Banks 382

Housing Wire

FEBRUARY 2, 2023

“However, the company was able to report a profit in an extremely difficult operating environment for residential mortgage originators in addition to seasonally low purchase origination volumes in Q4.” Therefore, its results portend a challenging quarter for the non-bank mortgage sector,” Kornfeld said.

Marketing 348

Marketing Banks Principal Loans 348

Housing Wire

JULY 27, 2023

Although the performance was propelled by its servicing portfolio – as occurred in previous quarters – mortgage production returned to profitability. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. trillion, still well below normalized levels, as mortgage rates are currently near 7%. trillion to $1.8

Banks 339

Banks Principal Loans Commercial 339

Housing Wire

NOVEMBER 17, 2022

Mortgage industry executives are echoing the sentiment that Ginnie Mae’s risk-based capital requirement is currently the main concern for companies holding mortgage servicing rights (MSR). According to industry leaders, the rule can force a sell-off wave, reduce values and put some lenders and services in a difficult spot.

Marketing 407

Marketing Lending Loans Principal 407

Housing Wire

AUGUST 12, 2022

O’Donoghue has been in mortgage banking for more than 30 years and has been helping and committed to working with Senior Citizens for the last seven years. Tom O’Donoghue: How inflation could be a net benefit for reverse mortgages by Chris Clow. HW Media: What is your current favorite HW+ article and why?

Principal 366

Principal Loans Lending Banks 366

Housing Wire

AUGUST 9, 2022

The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The principal balance of WMC’s residential whole loan portfolio at June 30 stood at $1.24 a week earlier.

Marketing 391

Marketing Bankruptcy Loans Principal 391

Housing Wire

OCTOBER 26, 2023

.” Regarding acquiring Specialized Loan Servicing for a purchase price of approximately $720 million, Nierenberg added that it “helps grow our third-party servicing business and reinforces our position as one of the leading nonbank mortgage servicers in the country.” To support its acquisitions, Rithm had $1.9 million in Q2.

Principal 399

Principal Loans Mortgages Banks 399

Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Principal : The amount of money you borrowed to buy the home. Over time, you'll pay down the principal and interest.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Housing Wire

MARCH 1, 2021

“When rates go up, the QM market can have a visceral reaction when the supply disappears, fast, and I think that is a huge tailwind for non-QM,” said Keith Lind, Executive Chairman and President of Acra Lending. Acra Lending offers a variety of non-QM programs for borrowers in those complicated, unique situations. Flexible Programs.

Lending 376

Lending Banks Loans Investor 376

Housing Wire

MAY 23, 2022

California-based nonbank mortgage lender Pennymac Financial Services will lay off 207 additional employees in June and July following a workforce reduction filing of more than 230 employees in March. Layoffs of 190 employees at Pennymac were first reported by National Mortgage News. Fairway Independent Mortgage Corp.

Loan Officer 393

Loan Officer Loans Principal Mortgages 393

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. The sharp decline in mortgage rates during the COVID-19 pandemic fueled the U.S.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

JULY 27, 2021

The Conference of State Bank Supervisors (CSBS) today released standards for states to craft regulations for nonbank mortgage servicers. The standards would require nonbank mortgage servicers to have a minimum net worth of $2.5 basis points of total servicing unpaid principal balance. That lines up with GSE requirements.

Principal 370

Principal Banks Mortgages Loans 370

Housing Wire

APRIL 27, 2023

However, Pennymac’s profitability declined compared to the previous quarter amid a still-challenging mortgage market. Servicing “is a critically important asset and has driven much of the success that we have enjoyed in mortgage banking,” David Spector, chairman and CEO, said in a recorded earnings message.

Principal 369

Principal Banks Loans Mortgages 369

Housing Wire

JANUARY 28, 2022

Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration ’s proposed servicing defect taxonomy.

Principal 389

Principal Loans Lending Banks 389

Housing Wire

JANUARY 25, 2023

Market speculation that Wells Fargo is contemplating a huge bulk sale of mortgage servicing rights (MSRs) may well be a case of a rumor that is all hat and no cattle. That doesn’t rule out that the banking behemoth might still have a such a deal in the works, however. Or it could signal a future MSR-market stampede. of the entire $8.4

Banks 373

Banks Loans Mortgages Sales 373

Toronto Realty Blog

NOVEMBER 10, 2023

I don’t have statistics on this (chime in if you’re in the mortgage field), but I would guess that an overwhelming majority of borrowers in Canada elect to take a 25-year amortization period. In 2008, these changes were intended to strengthen the mortgage world. But on a 25-year amortization, that’s $7,159.18

Mortgages 77

Mortgages Principal Banks Loans 77

Housing Wire

FEBRUARY 10, 2023

The direct-to-consumer channel was responsible for 60% of total originations from September to December, with the remainder coming via correspondent lending. ” Jay Bray , chairman and CEO of Mr. Cooper, said that last October, as mortgage rates were trending higher, Mr. Cooper eliminated 1,000 positions, most of them in originations.

Principal 342

Principal Mortgages Lending Equity 342